Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Mohawk Industries' fourth-quarter results showed a mixed performance amid ongoing industry challenges.</li><li>The company reported net sales of approximately $2.6 billion, consistent with the previous year, although this included the benefit from two additional shipping days.</li><li>Positively impacting the results were sales initiatives, restructuring efforts, and productivity improvements.</li></ul>

Mohawk Industries' fourth-quarter results showed a mixed performance amid ongoing industry challenges.The company reported net sales of approximately $2.6 billion, consistent with the previous year, although this included the benefit from two additional shipping days.Positively impacting the results were sales initiatives, restructuring efforts, and productivity improvements.

Mohawk Industries Bets Big on Luxury—Can Its Premium Products Help Them Gain Market Share?

Mohawk Industries: Its Expansion in Higher-End Product Mix In An Attempt To Aid Margin Expansion May Just Work Out!

<ul><li>Mohawk Industries reported its third quarter performance for 2024, delivering a mixed yet resilient financial outcome in the backdrop of challenging market conditions.</li><li>The company achieved earnings per share of $2.90, reflecting an approximately 7% increase, underpinned by various operational and strategic advancements.</li><li>Despite these gains, Mohawk experienced a 2% reduction in net sales, amounting to $2.7 billion for the quarter.</li></ul>

Mohawk Industries reported its third quarter performance for 2024, delivering a mixed yet resilient financial outcome in the backdrop of challenging market conditions.The company achieved earnings per share of $2.90, reflecting an approximately 7% increase, underpinned by various operational and strategic advancements.Despite these gains, Mohawk experienced a 2% reduction in net sales, amounting to $2.7 billion for the quarter.

Mohawk Industries Inc.: Recent Strategic Acquisitions Amidst Market Consolidation Driving Our Optimism! - Major Drivers

US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

Interactive Brokers Group, Inc / Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/interactive-brokers-group-inc" target="_blank" data-smartkarma-citation="entities:13335:1" rel="noopener">Interactive Brokers (IBKR US),</a><a href="https://www.smartkarma.com/entities/duolingo-inc" target="_blank" data-smartkarma-citation="entities:33531:1" rel="noopener">Duolingo (DUOL US)</a> and <a href="https://www.smartkarma.com/entities/emcor-group-inc" target="_blank" data-smartkarma-citation="entities:20703:1" rel="noopener">EMCOR (EME US)</a> are the main candidates for addition at review to replace <a href="https://www.smartkarma.com/entities/enphase-energy-inc" target="_blank" data-smartkarma-citation="entities:8872:1" rel="noopener">Enphase Energy (ENPH US)</a> and <a href="https://www.smartkarma.com/entities/caesars-entertainment-corp" target="_blank" data-smartkarma-citation="entities:15532:1" rel="noopener">Caesars Entertainment (CZR US)</a>. </li>
<li>
<a href="https://www.smartkarma.com/entities/cheniere-energy-inc" target="_blank" data-smartkarma-citation="entities:16683:1" rel="noopener">Cheniere Energy (LNG US)</a> and <a href="https://www.smartkarma.com/entities/applovin-corp" target="_blank" data-smartkarma-citation="entities:32989:1" rel="noopener">AppLovin (APP US)</a> are the main candidates for the replacement of the acquisition of <a href="https://www.smartkarma.com/entities/ansys-inc" target="_blank" data-smartkarma-citation="entities:15473:1" rel="noopener">Ansys (ANSS US)</a> which is anticipated end of June.</li>
<li>There is a possibility of zero S&amp;P500 changes at the review due to candidates scoring low in market cap and sector balance.</li>
</ul>



Interactive Brokers (IBKR US),Duolingo (DUOL US) and EMCOR (EME US) are the main candidates for addition at review to replace Enphase Energy (ENPH US) and Caesars Entertainment (CZR US). 

Cheniere Energy (LNG US) and AppLovin (APP US) are the main candidates for the replacement of the acquisition of Ansys (ANSS US) which is anticipated end of June.
There is a possibility of zero S&amp;P500 changes at the review due to candidates scoring low in market cap and sector balance.


S&P500 June 2025 Review Forecast: Weak but Interactive, Time for Duolingo?

Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

Equity, Bottom-up Analyst

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

<ul>
<li>
<a href="https://www.smartkarma.com/entities/stylam-industries-ltd" target="_blank" data-smartkarma-citation="entities:13492:1" rel="noopener">Stylam Industries (SYIL IN)</a> is a play on the Indian laminate space with a 25% CAGR growth predicated on growth in both international and domestic markets.</li>
<li>The stock trades at 23.6x/19x FY24e/25e. While this is not cheap by any stretch of the imagination, the company is a high grower/best in class amongst its competitors. </li>
<li>
<a href="https://www.smartkarma.com/entities/stylam-industries-ltd" target="_blank" data-smartkarma-citation="entities:13492:1" rel="noopener">Stylam Industries (SYIL IN)</a>  is completing an expansion to increase capacity by 40% in FY24 and expanding in a new segment that can double its revenue over FY23-25e. </li>
</ul>



Stylam Industries (SYIL IN) is a play on the Indian laminate space with a 25% CAGR growth predicated on growth in both international and domestic markets.
The stock trades at 23.6x/19x FY24e/25e. While this is not cheap by any stretch of the imagination, the company is a high grower/best in class amongst its competitors. 

Stylam Industries (SYIL IN)  is completing an expansion to increase capacity by 40% in FY24 and expanding in a new segment that can double its revenue over FY23-25e. 


Stylam (SYIL IN): Laminate Growth Play In India with 25% CAGR Growth

United States

Mohawk Industries, Inc. designs, manufactures, sources, distributes and markets flooring for residential and commercial applications.  The Company offers carpet, ceramic tile, laminate, wood, stone, vinyl, and rugs.  Mohawk markets residential and commercial flooring in the United States, and residential flooring in Europe.

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Mohawk Industries (MHK US)

Mohawk Industries: Its Expansion in Higher-End Product Mix In An Attempt To Aid Margin Expansion May Just Work Out!

Mohawk Industries' fourth-quarter results showed a mixed performance amid ongoing industry challenges. The company reported net sales of...

Baptista Research

Mohawk Industries Inc.: Recent Strategic Acquisitions Amidst Market Consolidation Driving Our Optimism! - Major Drivers

Mohawk Industries reported its third quarter performance for 2024, delivering a mixed yet resilient financial outcome in the backdrop of...

Baptista Research

S&P500 June 2025 Review Forecast: Weak but Interactive, Time for Duolingo?

No index changes materialized, and the candidates are weak indeed. Nonetheless, I still expected eligible midcap constituents to replace CZR and/or...

Dimitris Ioannidis

Stylam (SYIL IN): Laminate Growth Play In India with 25% CAGR Growth

Stylam is a high-growth (25% CAGR) player in the laminate industry. This piece highlights its competitive edge and why it's a good long-term...

Sameer Taneja

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